Currently there are many types of transfers depending on the amount to be transferred and the destination bank. So in order for you to know how long it takes for a transfer to arrive, we have to analyze all the transfer options that exist, since the delivery times can vary from 5 seconds to 7 working days.
We’ll tell you about it!
How long does a transfer take depending on the type of transfer?
In general, there are five types of transfers depending on the amount of money to be sent and the origin and destination of the transfer. Therefore, we will explain below how long a wire transfer takes according to the different options that exist:
- How long does an ordinary transfer take: these are the most traditional transfers and require knowing the recipient’s account number or IBAN. They usually take between 1 and 3 working days depending on whether the transfer is between accounts of the same or different banks. For both cases, many banks offer the option of same-day delivery if the transfer is made before a certain time. Also, ordinary transfers may have an added cost in some banks.
Now it is time to talk about immediate transfers which, as the name suggests, are received almost instantly and there are two types:
- How long does an immediate transfer with Bizum take: it could be said that Bizum transfers are the newest, but at the same time they are the fastest and easiest of all. Since you only need to know the phone number of the person you want to send the money for free, regardless of the day or time and in a matter of seconds you already have it in your account! So to the question of how long a Bizum transfer takes, the answer is simple: less than five seconds.
- How long does an immediate IBAN transfer take: They are usually used for special cases in which a large amount of money needs to reach its recipient in a matter of seconds. It is necessary to know the IBAN of the recipient and it is important to note that this type of transfer may have an extra cost associated with it.
- How long does an international transfer take: in this case we have to analyze the particularities of each case according to the destination country:
- To countries in the euro zone: they usually have very similar, if not the same, conditions as ordinary transfers. The money arrives in 1 or 2 working days and, in many cases, they are free of charge.
- To other European countries: when there is a currency exchange involved, times can take between 1 and 3 working days, and although the transfer itself may be free, you will have to pay a commission for the currency exchange (unless you have contracted a special service).
- To other countries: in this case it will depend on the country of destination, we recommend that you talk to your bank to specify your needs, but it usually takes between 2 and 7 working days for a transfer.
- How long does an international transfer between Spain and Andorra with Bizum take: luckily, bizumer, if you need to send money to our neighbors in the principality you can do it with Bizum. All three Andorran banks already have Bizum and you can settle your debts as if they were domestic transfers.
How long does a Bizum transfer take if I am abroad?
It doesn’t matter how far away you are. You can send a bizum from wherever you want, to whomever you want, whenever you want. Your bizum will still arrive within seconds.
How long does a transfer take? What if the recipient does not have Bizum?
Bizum remains a lightning-fast option for sending money even when the user is not yet registered with Bizum. Why is that? Well, we explain it to you: Bizum allows you to “pre-send” money to users who have not yet registered. So they receive an SMS with the steps to follow to register. And if they do it in less than 48 hours, their money will be in their account once they complete their registration in Bizum.
* It is important for you to know that your money does not stay in “bank limbo” during this process. The money is simply blocked during this process. So if the registration is not completed the money is unblocked once the time has elapsed. This process is automatic so you don’t have to do anything.
Now that you know how long a transfer takes in each case, don’t forget that to pay off your debts Bizum is the fastest, simplest and easiest option out there. Word of bizumer 😊
